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Haemonetics Reports Strong Results for Fourth Quarter and Fiscal Year End 2008 and Issues Guidance for Continued Strong Growth in Fiscal 2009
Date:5/1/2008

services revenue was $10 million for the quarter, down 5%. Annual software and services revenue was $39 million, up 17%. Software and services revenue growth in the year came from several areas: 1) the acquisition of IDM, Inc. in January 2007; 2) the integration of the Surround software suite into the operations of Hema Quebec, completing the integration of Surround into all Canadian blood testing; and 3) the ongoing management of and enhancements to the U.S. Department of Defense's Defense Blood Standard System.

Surgical disposables revenue was $21 million, up 23% for the quarter. Annual Surgical disposables revenue was $72 million, up 8%. Growth for the quarter and year was driven by the TEG product line which Haemonetics acquired in November 2007.

OrthoPAT(R) disposables revenue was $9 million for the quarter, up 10%. Annual OrthoPAT disposables revenue was $34 million, up 12%. The Company placed more than 175 OrthoPAT devices in the field in fiscal 2008. Equipment placements are expected to continue to drive disposables growth into fiscal 2009.

Equipment revenue was $11 million for the quarter, up 50%, and $33 million for the year, up 48%. Equipment sales growth was driven by sales of plasma devices in the growing European and Asian markets, platelet equipment in Europe, and red cell equipment in the U.S.

FISCAL 2009 SHARE REPURCHASE PLAN

Haemonetics said today that its Board of Directors has authorized a $60 million share repurchase program.

FISCAL 2009 GUIDANCE

Haemonetics announced its fiscal 2009 guidance. In fiscal 2009, the Company anticipates revenue growth of 8-11%, with growth again being driven by multiple product lines. Growth is planned from plasma, red cells, software, OrthoPAT, internal new products, and the acquired TEG product line. Adjusted operating income is expected to grow 14-17%, and adjusted earnings per share are expected to be in a range of $2.31 to $2.41, up 10-14%.

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SOURCE Haemonetics Corporation
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